SmartCap Green Fund’s principal purpose is to increase the supply of venture capital to new green technologies by making investments into green technology startups.
Green Fund Direct Investments address Estonian early-stage green technology startups with high growth potential in one or more strategic areas – energy, agriculture, food Industry, transport and logistics, material and chemical Industry and environment. A startup shall be considered to be a green technology company, if it meets both of the following criteria:
- the company develops innovative and/or research-intensive technologies; and
- such technology contributes to at least one of the following environmental objectives:
- climate change mitigation;
- climate change adaptation;
- the sustainable use and protection of water and marine resources;
- the transition to a circular economy;
- pollution prevention and control; and
- the protection and restoration of biodiversity and ecosystem.
Main investment considerations:
- SmartCap Green Fund will participate in an investment round pari passu with other independent private investor(s), whereas the participation of the private investor(s) is at least 50% of the investment round.
- Investments will be made as equity or convertible instruments in green technology companies that are established and operating in Estonia.
- SmartCap may initially participate in investment rounds from Seed funding up to Series B funding.
- SmartCap’s commitment size of one investment could be EUR 250,000-2,500,000 (out of total investment round EUR 500,000-5,000,000). Investment period for Green Fund Direct Investments is expected until the end of 2024.
SmartCap Green Fund Direct Investments
The startups may submit requests for clarification regarding the Green Fund Direct Investments in English via email to with subject field name “Clarifications – Green Tech Investment Programme 2022/10”.
The investment proposals must be submitted in the form set out in GTIP and be supplemented with the appendices and other documents required therein. The requirements submitting an investment proposal are prescribed in GTIP terms.